All posts tagged RBI

India’s central bank will unveil the final rules for new bank licenses before the end of the fiscal year in March, moving closer to throwing open the doors to the country’s strictly regulated banking sector to players from other fields.

The Indian government may have to look at resolving issues such as policy uncertainty, as well as raise foreign investment limits in sectors like insurance to help revive a slowing inflow of funds, a central bank report suggested. Read full report here.

MUMBAI — The Indian rupee rose sharply against the U.S. dollar Friday after the central bank announced steps to curb speculation in the currency market that are expected to bring some measure of stability to Asia” worst-performing currency in 2011.

India needs to fulfil certain criteria such as steady economic growth and stable inflation before it can move to full convertibility on its capital account, the central bank’s chief said Friday.

India removed all restrictions on its current account in the 1990s, soon after it enacted far-reaching economic reform in 1991, and has been gradually easing restrictions on its capital account since then.

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